QUESTION 1: Image you were a director of MTSB in 2006‚ what would be the steps you would taken to fulfill your fiduciary duties as a director. The steps MTSB have taken to fulfill the fiduciary duties as a director according section 6 of Companies Act‚ fiduciary duties of a director. Step 1 : Understanding about duties of director To carry out your duties as a director well‚ it is necessary for you to be fully aware of the duties and responsibilities expected of directors. Directors are fiduciaries
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AVOIDING INVESTMENTS IN FRAUDULENT COMPANIES: THE WORLDCOM FRAUD Introduction The purpose of this report is to investigate and discuss the accounting fraud that occurred at WorldCom in order to recommend improved strategies to Berkshire Hathaway’s management for avoiding investments in companies with fraudulent financials. Accounting fraud is a crime committed by high level employees at an organization to manipulate the organization’s financial statements and intentionally disguise company
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1Chapter 26 Internal and Governmental Financial Auditing and Operational Auditing Review Questions 26-1 Internal auditors who perform financial auditing are responsible for evaluating whether their company’s internal controls are designed and operating effectively and whether the financial statements are fairly presented. This responsibility is essentially the same as the responsibility of external auditors who perform financial audits. The two types of auditors are also similar in that
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Ray Go-Go Corporation Internal Controls Accounting Information Systems Brandman University As an external audit supervisor assigned to Go-Go Corporation it is my job to evaluate the effectiveness and accuracy of the company’s financial reporting process. To do this I have met with the key financial controlling personnel of the company along with reviewing the accounting policies‚ controls and operational system currently in place. This is similar to what the internal auditors that report
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SELECTED ECONOMIC ISSUES No. 10 2005 State Audit: An Instrument for Accountability and Good Economic Governance Page 2 Copyright © CEPA 2005 Centre For Policy Analysis No. 11 Amilcar Cabral Road Airport Residential Area Accra Mailing Address: P. O. Box 19010 Accra – North Ghana Tel: [233-21] 778035/779364-5 Fax: [233-21] 773670 ISSN: 0855-7144 ISBN: 9988-8007-9-7 The Centre for Policy Analysis is an independent‚ non-governmental think-tank‚ which provides rigorous analysis and
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Professional Level – Options Module Advanced Audit and Assurance (International) Tuesday 8 June 2010 Time allowed Reading and planning: Writing: 15 minutes 3 hours This paper is divided into two sections: Section A – BOTH questions are compulsory and MUST be attempted Section B – TWO questions ONLY to be attempted Do NOT open this paper until instructed by the supervisor. During reading and planning time only the question paper may be annotated. You must NOT write in your answer booklet
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The Global Leader In Audit and Information Security Training Audit Director and Managers Training Week 7-1117 - 21 June 2013 October 2013 London London Part 1. Managing the Internal Audit Department Part 2. Auditing Governance‚ Strategy‚ Ethics and Risk Management Courses can be attended individually or attend both and save 10% www.mistieurope.com/TW11 Audit Director and Managers Training Week Audit Director and Managers Training Week Dates: 7-11 October 2013 www.mistieurope
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Firstly‚ Jack may have committed a violation that he was not objective in this case. According to Institute of Internal Auditors (IIA)‚ internal auditors must have an unbiased attitude and show professional objectivity at the highest level based on Code of Ethics and the Standards. Conversely‚ Jack had confrontations with the controller because of clashing personalities one year ago. Before his visit to Mercy Hospital‚ Jack already believed that there is the adversarial relationship between them
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Republic of the Philippines SECURITIES AND EXCHANGE COMMISSION SEC Building‚ EDSA‚ Greenhills Mandaluyong City SEC Memorandum Circular No. 6 Series of 2009 REVISED CODE OF CORPORATE GOVERNANCE Pursuant to its mandate under the Securities Regulation Code and the Corporation Code‚ the Securities and Exchange Commission (the “Commission”)‚ in a meeting held on June 18‚ 2009‚ approved the promulgation of this Revised Code of Corporate Governance (the “Code”) which shall apply to registered corporations
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develop and maintain land‚ water and sewage services that will guarantee safe operations and healthy environment. 3. VISION STATEMENT To be amongst the best Airports group in the world. 4.0 DETAILS OF CUSTOMERS 4.1. INTERNAL CUSTOMERS - Federal Ministry of Aviation (FMA) - Board - Management - Staff of FAAN 4.2 EXTERNAL CUSTOMERS - Airline Operators - Government Agencies
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